Both new and used cars are scarce and carry higher prices than just months ago and cars are quite a hot commodity these days. Microchip shortages have lowered the supply of NEW cars. Julie Blackley of iSeeCars.com says that in Houston some are in greater demand than others! "Toyota models are in very tight inventory right now. So if you see a Toyota or a Lexus that you want, you have to act quickly." She says in Houston, used cars are good for selling - and pricier for buying! "New cars are not objected to the same price hike that used cars are. For new cars: Dealers are marking over the MSRP, but not to the same degree as used cars."
Blackley says selling your used car could bring in 40% more than it would have last year, but buying one is 40% more painful. She says in Houston smaller cars are in more demand than larger ones because of their lower prices and better gas mileage. However, she says here really big and fancy cars are going quickly too because people wealthy enough to buy them don't mind the price.
Blackley says dealers will buy ANY used car now!